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Lender makes claim after first priority lien forecloses
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Court Report
Wednesday, October 11, 2017
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After the completion of a foreclosure action by a lender with a prior recorded, but previously unknown, mortgage, a lender took steps to regain what it argues is its first priority status, including filing suit against its title insurer. The title insurer had denied its claim because the lender did not file its claim until well after the foreclosure was completed, not when it found out about the foreclosure action, as required under the policy. Read on for more details.
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